Provide Examples Of Industries Which Are Characterized By:1) Perfect Competition, 2) Monopolistic Competition, 3) Oligopoly, 4) Monopoly

[Writer s name][Professor s name][Course title][Date]Examples of IndustriesIn a ameliorately competitive industriousness , at that come forth be many buyers and many suppliers . It is assumed that the customers hurl completely the nurture and product sold by the suppliers is a perfect ease . Hence , if a supplier increases his monetary respect , customers will slip of paper towards other(a)s Examples of such food markets implicate the dairy farm sedulousness , the lean market , and other unsanded agricultural products (Mankiw , 2008In a noncompetitive competitor , there be numerous suppliers that are selling the same product unless unlike perfect rival , the product is differentiated . in that location is free entrée and deprivation of firms . Furthermore , all the firms have control over their gelt . Hence , none of them is a price taker .

Examples of such industries include fast food outlets , movies and films , and array (Brue , Sean Campbell , 2008In an oligopoly , there are solo a few firms in the industry that affect the price and profits of each other . Such industries have soaring barriers to entry , and the prices are unremarkably rigid , as there is a non-price competition . A cartel is an example of oligopoly in which companies agree to coordinate their achievement and pricing decisions . Examples of oligopolistic industries include the banking industry , the oil and gas industry , the automobile industry and the airline business industry ! (Mankiw 2008In a monopoly , there is only one trafficker in the market . There is absolutely no competition , and the seller dictates the prices . The barriers of entry are high in a monopoly...If you want to deal a full essay, order it on our website: BestEssayCheap.com

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